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Follows Governor s 2021 State of the State Proposal to Expand Home Ownership in Historically Redlined Communities to Bridge Racial Wealth Gap
Report by Department of Financial Services Finds Significant Lack of Lending in Majority-Minority Neighborhoods and to Homebuyers of Color, Decades After Redlining Was Banned by Law
Report Recommends Legislative Action to Require Nonbank Mortgage Lenders to Comply with New York State CRA and Calls on Federal Government to Take Further Action With Respect to Federally Chartered Institutions
Department of Financial Services Entered Settlement with Hunt Mortgage Aimed at Improving Poor Performance in Lending to Communities and Borrowers of Color; Several Other DFS Investigations Are Ongoing
6 Credit Card Costs You Should Never Pay
All of these credit card costs are avoidable.
Photo by GaudiLab / Shutterstock.com
Credit cards can be a great financial tool, helping you build credit to accomplish other goals, as well as providing you with a way to earn rewards.
However, credit cards can also come with a hefty cost. If you use credit cards, there are a few costs you should do your best to avoid paying.
1. Annual fee
Does your card charge an annual fee? You might be able to have it waived. A few years ago when one of my credit card issuers added a fee, I called and asked to have it waived and was successful. The key is to have a history of being a good customer meaning your issuer wouldn’t want to lose you and be willing to cancel your card if the company does not waive the fee.
Regulating NBFCs
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RBI’s proposed regulation for NBFCs is not disruptive, but seems to focus on systemic risk
After dropping broad hints about the need to tighten the screws on non-banking finance companies (NBFCs) post the IL&FS and Dewan Housing Finance (DHFL) failures, the Reserve Bank of India has floated a discussion paper that doesn’t seem to materially disrupt the sector’s regulatory regime. It suggests classifying NBFCs into four layers based on size and activity so that they can be subjected to differing degrees of regulation. Most players appear to be rather relieved about the paper, which has kept off recommending a Cash Reserve Ratio or a Statutory Liquidity Ratio requirement for NBFCs to bring them on a par with banks.
The White House announced President Joe Biden would appoint Dave Uejio to run the Consumer Financial Protection Bureau (CFPB) on an acting basis after its director, Kathy Kraninger, resigned at the new administration's request.
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NEW ORLEANS, Dec. 18, 2020 /PRNewswire/ Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ( KSF ), announces that KSF has commenced an investigation into Navient Corporation (NasdaqGS: NAVI).
Throughout 2017 and 2018, Navient was sued in several civil lawsuits filed by the U.S. Consumer Financial Protection Bureau ( CFPB ) and Attorneys General from Illinois, Pennsylvania, Washington, California and Mississippi for violations of state and federal consumer protection laws, based on allegations of widespread acts of misconduct detrimental to borrowers of the loans it services.
Recently, in October 2020, the New Jersey Attorney General also filed suit against the Company for violation of New Jersey consumer protection laws, alleging that it is engaged in unconscionable commercial practices, deceptive conduct, and misrepresentations when servicing thousands of New Jersey co